Will Connecticut eschew its time-honored label as the Nutmeg State and adopt a new identity as the Smile State? Almost certainly not — but it could.

The state was named the 12th happiest in the nation in a new ranking from the financial web site WalletHub. Drawing on data from such agencies as the U.S. Census Bureau, the Bureau of Labor Statistics and the Centers for Disease Control and Prevention, WalletHub ranked the states from happiest to least happy, using 31 key metrics, ranging from depression rate to sports participation rate to income growth.

Hawaii was ranked as the happiest state, with Utah, Minnesota, North Dakota and California rounding out the top five. West Virginia was named least happy, with Arkansas, Louisiana, Alaska, and Oklahoma joining it in the sad pack at the bottom of the rankings.

Connecticut fared well in a variety of metrics, including having the fifth lowest suicide rate, the eighth lowest number of work numbers, and the 15th lowest separation and divorce rate.

The study drew upon previous research about happiness and the factors that lead to greater happiness to decide what should be included in the ranking criteria. Surprisingly, there was one factor that WalletHub found played less of a role in joy than most people might guess.

“One thing that doesn’t drive happiness is money,” stated a news release from WalletHub. “Happiness only increases with wealth up to an annual income of $75,000.”